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Max Petrol Share News (MXP)
Share News for Max Petrol (MXP)
| Share Price: 3.98 | Bid: 3.98 | Ask: 4.09 | Change: 0.00 (0.00%) |  | ||||||
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UPDATE 1-Max Petroleum sees higher Q3 output; extends Kazakh trial production
Mon, 4th Jul 2011 07:58
* Sees Q3 daily output of over 3,000 bopd on four new producing wells
* Gets Kazakh ap
* Seeks regulatory approval to fully develop and produce from the field
* Says approval expected in Q4
July 4 (Reuters) - Max Petroleum forecast higher daily output for the third quarter, as it planned to bring four new wells on stream, and the British oil explorer also extended trial production from a field in Kazakhstan after getting approval.
The Kazakhstan-focused explorer, which currently produces about 2,200 barrels of oil per day (bopd), said it expects daily production to rise to over 3,000 bopd.
Max said it had received government approval to extend trial production from its Zhana Makat field until Dec. 15 this year, as it seeks a regulatory go-ahead to fully develop and produce the field.
The regulatory approval, which is expected to come through in the fourth quarter, will allow the company to develop and produce from the field for up to 25 years and also grant it the right to export 80 percent of its crude oil production.
Max Petroleum shares, which have lost more than a quarter of their value since Kazakhstan rejected its tax claim in April, closed at 12.75 pence on Friday.
($1 = 0.626 British Pounds)
(Reporting by Anirban Sen in Bangalore; Editing by Gopakumar Warrier) Keywords: MAXPETROLEUM/
(anirban.sen@thomsonreuters.com; within UK +44 207 542 1810; outside UK +91 80 4135 5353; Reuters Messaging: anirban.sen.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2011. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Sees Q3 daily output of over 3,000 bopd on four new producing wells
* Gets Kazakh ap
proval to extend trial production from Zhana Makat
* Seeks regulatory approval to fully develop and produce from the field
* Says approval expected in Q4
July 4 (Reuters) - Max Petroleum forecast higher daily output for the third quarter, as it planned to bring four new wells on stream, and the British oil explorer also extended trial production from a field in Kazakhstan after getting approval.
The Kazakhstan-focused explorer, which currently produces about 2,200 barrels of oil per day (bopd), said it expects daily production to rise to over 3,000 bopd.
Max said it had received government approval to extend trial production from its Zhana Makat field until Dec. 15 this year, as it seeks a regulatory go-ahead to fully develop and produce the field.
The regulatory approval, which is expected to come through in the fourth quarter, will allow the company to develop and produce from the field for up to 25 years and also grant it the right to export 80 percent of its crude oil production.
Max Petroleum shares, which have lost more than a quarter of their value since Kazakhstan rejected its tax claim in April, closed at 12.75 pence on Friday.
($1 = 0.626 British Pounds)
(Reporting by Anirban Sen in Bangalore; Editing by Gopakumar Warrier) Keywords: MAXPETROLEUM/
(anirban.sen@thomsonreuters.com; within UK +44 207 542 1810; outside UK +91 80 4135 5353; Reuters Messaging: anirban.sen.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2011. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
STOCKS NEWS EUROPE-UK small caps rise 0.3 pct at midday
The FTSE Small Cap index rises 0.3 percent in mid-session deals, trailing a rebound of 1 percent each on the FTSE 100 and the FTSE 250 .Max Petroleum[22 Feb '13]
RESEARCH ALERT-Max Petroleum: Merchant Securities raises target price
Jan 3 (Reuters) - Max Petroleum PLC: * Merchant Securities raises target price to 6.5p from 6.3p; rating buy For a summary of ra[3 Jan '13]
RESEARCH ALERT-Falkland Oil and Gas: Merchant Securities raises to buy
Nov 28 (Reuters) - : * Falkland Oil And Gas: Merchant Securities raises to buy from sell * Max Petroleum: Merchant Securities raises t[28 Nov '12]
Max Petroleum does not find oil at Kazakhstan well, shares fall
Sept 20 (Reuters) - Kazakhstan-focused oil producer Max Petroleum Plc said a well on the Dossor North-West prospect would be plugged and abandon[20 Sep '12]
BRIEF-Max Petroleum does not find producible hydrocarbons in DOSNW-1 well
LONDON, Sept 20 (Reuters) - Max Petroleum PLC: * Has completed drilling the dosnw-1 exploration well on the dossor north-west prospe[20 Sep '12]
BRIEF-Max Petroleum begins drilling DOS NW-1 exploration well
LONDON, Sept 11 (Reuters) - Max Petroleum PLC: * Has commenced drilling the dos nw-1 exploration well on the dossor north west prosp[11 Sep '12]
BRIEF-Max Petroleum makes discovery at Baichonas drill
LONDON, Sept 3 (Reuters) - Max Petroleum PLC: * Bchw-1 exploration well indicating 13 metres of net pay over a 20 metre interval[3 Sep '12]
BRIEF-Max Petroleum makes discovery at Baichonas drill
LONDON, Sept 3 (Reuters) - Max Petroleum PLC: * Bchw-1 exploration well indicating 13 metres of net pay over a 20 metre interval[3 Sep '12]
